FILREIT leading growth in sustainable office spaces
Apr 5, 2022
Reputable multinational BPOs currently account for 88.4 percent of the occupied gross leasable area (GLA) in FILREIT’s portfolio as of March 2021, thus providing a stable source of revenues for the company. About 8.8 percent are leased out to traditional offices and retail, which have also seen a growing demand.
“The stability and growing demand of multinational BPO firms and regional operating headquarters make us bullish about the FILREIT initial public offering (IPO). As you know, BPOs currently comprise 88 percent of the occupied gross leasable area of FILREIT’s portfolio,” said FILREIT president and CEO Maricel Brion-Lirio.
“The Philippines is one of the most attractive BPO markets globally. Based on the latest Report of IT-BPAP (IT-Business Process Association of the Philippines), the IT-business process management (BPM) sector grew by almost 2 percent in 2020 and BPOs are cautiously optimistic to reach the 5.5-percent increase in revenues and 5-percent increase in manpower by 2021-2022. This is shared by Colliers International, which said in its first-quarter report that the IT-BPM sector grew despite the pandemic and displayed signs of early recovery,” Lirio explained.
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